Scenario moving sideways or slightly higher and resuming of the sell off. DJ support level ~11600 - 38,2% correction of the rally since July 2010.
Alternate scenario selling climax.
Closer view of the two options shown on the hourly chart of SP500.
Jun 25, 2011
Weekly review / Седмичен преглед
Last week I was expecting a rise to ~1295 SP500 followed by a pullback. But the "pullback" was too deep to be a pullback something else is going on. I think the indexes will move sideways for a while and then the selling will resume. Initial target is ~1220 SP500 but it could easily go lower to ~1175(the next support level). Alternate scenario is selling climax next week.
Scenario moving sideways or slightly higher and resuming of the sell off. DJ support level ~11600 - 38,2% correction of the rally since July 2010.
Alternate scenario selling climax.
Closer view of the two options shown on the hourly chart of SP500.
Scenario moving sideways or slightly higher and resuming of the sell off. DJ support level ~11600 - 38,2% correction of the rally since July 2010.Alternate scenario selling climax.Closer view of the two options shown on the hourly chart of SP500.
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